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September 03, 2024, 11:53:23 AM |
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August 2024 has been a rollercoaster for the altcoin market, marked by significant events and trends. The key focus has been on the Ethereum ecosystem, especially after the recent upgrade aimed at improving scalability and reducing gas fees. This upgrade has reignited interest in Layer 2 solutions, with Arbitrum and Optimism leading the charge.
In parallel, the DeFi sector saw a surge in activity, particularly with new liquidity protocols gaining traction. Meanwhile, Solana and Cardano continued to develop, with Solana's new partnerships driving up its TVL (Total Value Locked).
However, regulatory pressures, particularly from the SEC's scrutiny, created volatility, impacting several smaller altcoins. As always, traders should stay informed, especially with upcoming FOMC meetings that could influence market sentiment.
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